Market Overview

Goldman Sachs Cuts Campbell, Kellogg; Upgrades Mead Johnson, Kimberly Clark

Share:
Related K
As Grocery Stores Cut Cereal Shelf Space, Refrigerated And Frozen Foods Are Wanted Products
Cautious Call On Kellogg; Shares Downgraded On Risk To Shelf Space

Two consumer giants saw its shares downgraded by Goldman Sachs, in the face of increasing competition from generic supermarket brands.

Goldman's Jason English cut Campbell Soup (NYSE: CPB) and Kellogg (NYSE: K) from Neutral to Sell, reportedly suggesting the companies will miss second-quarter expectations.

English also upgraded Mead Johnson Nutrition (NYSE: MJN) from Neutral to Buy and Kimberly Clark (NYSE: KMB) from Sell to Neutral.

Campbell has slipped 2.2 percent to $44.27; Kellogg less than one percent to $65.58. Mead was up 0.41 percent at $93.28 and Kimberly was up 0.48 percent to $113.56.

English reportedly thinks Kellogg's second-quarter sales will miss the consensus and said management may cut its outlook when the company reports on July 31.

Analysts on average expect Kellogg will report earnings of $1.03 per share on sales of $3.73 billion.

English reportedly also expects Campbell will post a second-quarter miss and cut his target to $39 from $41.

Analysts have an average price target of $42 for Campbell and expect second-quarter earnings of $0.49 per share on revenue of $1.87 billion.

Latest Ratings for K

DateFirmActionFromTo
Sep 2017PiperJaffrayDowngradesOverweightNeutral
Aug 2017JP MorganUpgradesNeutralOverweight
May 2017PiperJaffrayInitiates Coverage OnOverweight

View More Analyst Ratings for K
View the Latest Analyst Ratings

Posted-In: Goldman Sachs Jason EnglishUpgrades Downgrades Price Target Analyst Ratings

 

Related Articles (CPB + K)

View Comments and Join the Discussion!
Loading...
Loading...